--- title: "Appian | 10-K: FY2025 Revenue Beats Estimate at USD 726.94 M" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/276370720.md" datetime: "2026-02-19T19:27:22.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276370720.md) - [en](https://longbridge.com/en/news/276370720.md) - [zh-HK](https://longbridge.com/zh-HK/news/276370720.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/276370720.md) | [English](https://longbridge.com/en/news/276370720.md) # Appian | 10-K: FY2025 Revenue Beats Estimate at USD 726.94 M Revenue: As of FY2025, the actual value is USD 726.94 M, beating the estimate of USD 713.38 M. EPS: As of FY2025, the actual value is USD 0.02. EBIT: As of FY2025, the actual value is USD 27.29 M. #### Segment Revenue - **Total Revenue**: Appian Corporation’s total revenue increased by 17.8% from $617.0 million in 2024 to $726.9 million in 2025, and from $545.4 million in 2023 to $617.0 million in 2024 . - **Subscriptions Revenue**: Subscriptions revenue grew from $490.6 million in 2024 to $576.5 million in 2025, an increase of $85.9 million. In 2024, it increased from $412.3 million in 2023 to $490.6 million . - **Cloud Subscriptions Revenue**: Cloud subscriptions revenue was $437.4 million in 2025, $368.0 million in 2024, and $304.5 million in 2023. Cloud subscriptions revenue constituted 75.9% of total subscriptions revenue in 2025, 75.0% in 2024, and 73.8% in 2023 . - **License Subscriptions Revenue**: License subscriptions revenue increased by $13.7 million in 2025 compared to 2024 . - **Maintenance and Support Revenue**: Maintenance and support revenue increased by $2.9 million in 2025 compared to 2024 . - **Professional Services Revenue**: Professional services revenue increased by $24.0 million (19.0%) from $126.5 million in 2024 to $150.5 million in 2025. In 2024, it decreased from $133.0 million in 2023 to $126.5 million . - **Geographic Revenue**: Revenue from customers outside the United States was 37.6% of total revenue in 2025, 36.6% in 2024, and 35.8% in 2023. Domestic revenue was $453.7 million in 2025, $391.0 million in 2024, and $350.2 million in 2023. International revenue was $273.2 million in 2025, $226.0 million in 2024, and $195.2 million in 2023 . - **Key Industry Verticals**: In 2025, approximately 80% of subscriptions revenue was generated from customers in financial services, government, life sciences, insurance, and manufacturing verticals . - **U.S. Federal Government Agencies Revenue**: Revenue from U.S. federal government agencies accounted for 25.3% of total revenue in 2025, 23.9% in 2024, and 21.3% in 2023. The top three U.S. federal government customers generated 3.9% of total revenue in 2025, 4.0% in 2024, and 4.2% in 2023 . #### Operational Metrics - **Net Income (Loss)**: Appian Corporation reported a net income of $1.2 million in 2025, a significant improvement from net losses of -$92.3 million in 2024 and -$111.4 million in 2023 . - **Operating Income (Loss)**: Operating income was $0.6 million in 2025, compared to operating losses of -$60.9 million in 2024 and -$108.0 million in 2023 . - **Gross Profit**: Total gross profit was $527.3 million in 2025, up from $448.8 million in 2024 and $385.0 million in 2023 . - **Subscriptions Gross Profit**: Subscriptions gross profit increased from $424.9 million in 2024 to $492.5 million in 2025 . - **Professional Services Gross Profit**: Professional services gross profit increased from $23.9 million in 2024 to $34.9 million in 2025 . - **Gross Margin**: Total gross margin was 72.5% in 2025, 72.7% in 2024, and 70.6% in 2023 . - **Subscriptions Gross Margin**: Subscriptions gross margin was 85.4% in 2025, a decrease from 86.6% in 2024 . - **Professional Services Gross Margin**: Professional services gross margin was 23.2% in 2025, an increase from 18.9% in 2024 . - **Operating Expenses**: Total operating expenses increased by 3.4% from $509.6 million in 2024 to $526.7 million in 2025 . - **Sales and Marketing Expense**: Sales and marketing expense increased by 1.1% from $238.5 million in 2024 to $241.2 million in 2025. As a percentage of revenue, it decreased from 38.6% in 2024 to 33.2% in 2025 . - **Research and Development Expense**: Research and development expense increased by 5.4% from $163.4 million in 2024 to $172.2 million in 2025. As a percentage of revenue, it decreased from 26.5% in 2024 to 23.7% in 2025 . - **General and Administrative Expense**: General and administrative expense increased by 5.2% from $107.8 million in 2024 to $113.4 million in 2025. As a percentage of revenue, it decreased from 17.5% in 2024 to 15.6% in 2025 . - **Other Non-Operating (Income) Expense**: Other non-operating income, net was $26.7 million in 2025, compared to other non-operating expense, net of -$6.8 million in 2024 . - **Interest Expense**: Interest expense decreased by -$2.7 million (11.6%) from $23.6 million in 2024 to $20.9 million in 2025 . - **Income Tax Expense**: Income tax expense increased by $4.2 million in 2025 to $5.2 million, compared to $1.1 million in 2024 . #### Cash Flow - **Net Cash Provided by Operating Activities**: Net cash provided by operating activities was $62.9 million in 2025, a substantial increase from $6.9 million in 2024. In 2023, net cash used by operating activities was -$110.4 million . - **Net Cash Used by Investing Activities**: Net cash used by investing activities was -$12.8 million in 2025, an improvement from -$35.4 million in 2024 . - **Net Cash Used by Financing Activities**: Net cash used by financing activities was -$36.3 million in 2025, a change from -$0.3 million in 2024 . #### Unique Metrics - **Cloud Net ARR Expansion**: Cloud net ARR expansion was 114% in 2025, 113% in 2024, and 116% in 2023 . - **Customers with over $1 million ARR**: The number of customers paying in excess of $1 million of annual recurring revenue grew from 115 at the end of 2024 to 140 at the end of 2025 . - **Backlog**: As of December 31, 2025, the backlog of non-cancellable future amounts to be recognized under cloud and license subscription agreements was $661.8 million, up from $546.0 million in 2024. Approximately 33% of the 2025 backlog is expected to be recognized in 2026 . - **Employee Headcount**: As of December 31, 2025, Appian Corporation had a total global workforce of 2,149 employees, with 1,383 based in the United States . #### Outlook / Guidance Appian Corporation expects operating expenses to continue increasing in absolute dollars, though at a more measured rate than in prior years, as it invests in product enhancement and business growth . The company plans to continue investing in its professional services group and strategic partnerships to drive platform adoption . Future funding sources are anticipated to primarily come from cash generated by sales of subscriptions and related professional services, with potential additional funding from debt financing or public offerings . ### 相關股票 - [Appian (APPN.US)](https://longbridge.com/zh-HK/quote/APPN.US.md) ## 相關資訊與研究 - [Fivespan brings amicable activism to Appian in a bid to lift the share price and build value](https://longbridge.com/zh-HK/news/275205297.md) - [Netflix is raising subscription prices yet again. Is the stock a buy?](https://longbridge.com/zh-HK/news/281545662.md) - [Lokotech Insider Shifts Subscription Rights in Internal Reorganization](https://longbridge.com/zh-HK/news/281626382.md) - [AT&T Launches OneConnect, the First-Ever Single Subscription for Unlimited Connectivity | T Stock News](https://longbridge.com/zh-HK/news/281171783.md) - [AT&T Launches Combined Wireless, Home Internet Subscription Plan](https://longbridge.com/zh-HK/news/281182196.md)